Allianz Holdings-L&G merger approved by EC

Friday, 27. September 2019 12:46

The proposed acquisition of Legal and General Insurance Limited (L&G) by Allianz SE's UK subsidiary, Allianz Holdings plc, was cleared on Friday after a merger review by the European Commission.

The Commission said in a statement that it "concluded that the proposed transaction would raise no competition concerns because of its limited impact on the markets concerned."

Both firms operate in the United Kingdom and provide several kinds of non-life insurance.

Related Links: Allianz SE
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Breaking the News / MS